The Indian stock market opened on a positive note on Monday, January 6, 2025, as IT stocks staged a recovery following last week’s market crash, which had been fueled by declines in the IT, pharma, and banking sectors.
By 9:30 AM IST, the benchmark BSE Sensex had gained 272.45 points, or 0.34%, reaching 79,495.56, while the broader NSE Nifty was up by 27.60 points, or 0.11%, at 24,032.35.
Top Gainers in the Market
Among the top performers, Bajaj Finance Ltd saw the largest increase, rising 1.96% to Rs.7,557.00. Titan Company Ltd followed with a 1.62% rise, reaching Rs.3,505, while Infosys Ltd gained 1.53%, trading at Rs.1,968.05.
Sectoral Performance
The Nifty IT index led the sectoral gains, up by 0.98% at 44,155.40, driven by a rebound in IT stocks. Nifty Consumer Durables followed with a rise of 0.69%, reaching 43,518.60, while Nifty Auto posted a modest gain of 0.08%, reaching 24,025.20.
Market Performance Last Week
The market had ended the previous week on a negative note. On Friday, January 3, 2025, the Sensex closed at 79,223.11, losing 720.60 points, or 0.90%. Similarly, the Nifty closed at 24,004.75, down by 183.90 points, or 0.76%. The crash was largely driven by declines in stocks like Zomato Ltd, which fell by 4.27% to Rs.272.70, HDFC Bank, which dropped 2.46% to ₹1,749.30, and Tech Mahindra, down 2.19% to Rs.1,689.90.
The Nifty IT, Pharma, and Bank indices were among the worst performers last week, each recording losses. Nifty IT fell by 1.41%, Nifty Pharma by 1.23%, and Nifty Bank by 1.20%.
Despite the recovery today, market participants will closely watch for any further developments throughout the week.
